The crypto exchange again hints at readiness to fight perceived SEC overreach, leaving many to wonder wen re-list XRP.
Coinbase, the largest crypto exchange in the United States, has changed its risk disclosure, hinting at a growing resolve to resist perceived overreach from the U.S. Securities and Exchange Commission.
This change appeared in the crypto exchange’s recently released earnings report and was first reported by Axios. Notably, Coinbase now asserts in its risk disclosure that it may only delist crypto assets fingered by the SEC as securities once a judicial ruling supports the regulator’s claim.
“We may determine not to remove a particular crypto asset from Coinbase Spot Market even if the SEC or another regulator alleges that the crypto asset is a security,” reads the latest addition to the firm’s risk disclosure.
It is not the first time the crypto exchange has expressed a readiness to fight the SEC’s classification of tokens listed on its platform. Recall that the SEC, in a filing against Ishan Wahi, a former Coinbase product manager, and two others accused of insider trading, had alleged that nine tokens listed on the exchange represented securities. Coinbase expressed confidence in its asset listing process, asserting that no crypto listed on the exchange was security.
Coinbase still offers six of the nine assets for trading several months after the SEC claim.
The latest change to its risk disclosure comes as the SEC intensifies its crypto enforcement efforts with attacks against crypto staking and stablecoins. These are all aspects of the crypto sector that Coinbase is heavily involved with, as its earnings report shows a significant contribution from interests earned on USDC reserves.
Coinbase’s actions and statements indicate the crypto exchange is gearing up for a fight.
“Coinbase’s staking services are not securities,” Coinbase chief Brian Armstrong recently said. “We will happily defend this in court if needed.”
Wait, What About XRP?
This is the question on the minds of several XRP holders after seeing reports of Coinbase’s risk disclosure change. Recall that the firm ceased support for XRP after the SEC filed a complaint against Ripple and its executives, alleging XRP to be an unregistered security.
The move disappointed many, considering the firm conducted an extensive analysis and consulted with the SEC before listing the asset. Consequently, several XRP community members wonder if this latest policy change will make the exchange consider listing XRP again. As a result, the hashtag “RelistXRP” is trending on Twitter.
With Coinbase teasing a significant announcement scheduled for today, some now speculate it plans to re-list XRP. There is little evidence to back this.
🔵 A lot of rumors about the 🔵
1. #Coinbase x #opensea
2. #NFT integration #Chainlink
3. #Arbitrum $ARB
4. Rebrand to #Circle #USDC
5. $COIN relisting $XRP https://t.co/5RhfWXBEpT
— Crypto Hawkeye (@CryptoHawkeye1) February 23, 2023